YorshTrading

W24 - EURUSD - LONG after correction but SHORT target scenario

Short
YorshTrading Mis à jour   
FX:EURUSD   Euro / Dollar Américain
We are in a downtrend on weekly and daily charts.
For the 4h and 1h chart, the price crossed the trends and we have signs of a possible up trend movment.

I will look for sell orders as we are far away from the daily chart: Weekly:
I will look for buy orders if I see another correction forming on the current impulse (green scenario)
If the price falls back inside the channel I will enter with a sell order (red scenario)

Reasons for buy:
- price is over the 100SMA (1h and 4h charts and edging the D chart)
- overbought in RSI indicator (1h and 4h charts and edging the D chart)
- the price crossed the down trend channel
- when another leg will be formed a buy order will took place (matching the Fibonacci retracement for the down trend -level 0.7)

Reasons for sell:
- we have a strong downtrend on weekly and daily charts were we are on the impulse zone
- the current uptrend is a consequence of bad news for USD currency (last week)
- we are matching the Fibonacci retracement level (0.5 and we can go to 0.618)
- the price will correct soon and there are no missed pivots that we can target
- the weekly pivot will be under the current price

I will consider OP, TP and SL levels once we see the next movement
Transaction en cours:
I've entered in a small trade till the missed monthly pivot.
Ratio 1/1
Trade fermée manuellement:
I closed the eurusd trade with a very small profit, but did not look for sell trades as previous mentioned.
Will update my analysis on a new EURUSD sheet.
Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.